On December 30, 2024, the Strategic Investments Committee, chaired by Prime Minister Edi Rama, decided to accept the proposal from Atlantic Incubation Partners LLC and grant it the status of a strategic investor through a special procedure.

The Strategic Investments Committee’s decision outlines a planned investment of 1.4 billion euros for the island, with construction set to occupy 8% of the island, equivalent to 45 hectares.

“The value of the investment for the ‘Tourist Resort – Sazan Island’ project meets the criteria set forth by the legislation for strategic investments and is expected to total 1.4 billion euros,” states the decision of the Strategic Investments Committee.

Once the status is approved, the company associated with Jared Kushner, the son-in-law of U.S. President-elect Donald Trump, will be required to negotiate a contract with the public entity, the Strategic Investment Corporation. Furthermore, several government institutions, including the ministries of Infrastructure, Defense, Environment, and Economy, will assist the company by transferring property and preparing the necessary documentation to clear the way for the project implementation.

The Strategic Investments Committee’s decision does not outline the benefits Albania will receive from transferring public property to the American company. However, it is noted that a contract will be negotiated with the company, in which Albania will also be involved in the investment. Prime Minister Edi Rama had previously indicated this.

The state’s participation in this investment will be structured through the establishment of a joint legal entity, comprising the Albanian Investment Corporation (AIC), Albanian Seaports Development Company SH.A. (ASDC) as the state party, and the investor, Atlantic Incubation Partners LLC, a U.S. law firm. The project proposed by Atlantic Incubation Partners LLC, a U.S.-based company with identification number (EIN) 92-3329707, will undergo a review and evaluation process to determine the terms and conditions for the potential co-participation of the Albanian state in this strategic investment, in accordance with the Council of Ministers Decision No. 1030, dated December 16, 2015, titled ‘On the Organization and Form of State Participation in Strategic Investments and the Rules for the Creation, Operation, and Management of the Real Estate Assets Fund for Supporting Strategic Investments (FPPMIS).’

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